August 15, 2018

The Daily Bankruptcy News

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Law:

Pay Model Evolves at Fried Frank, Paving Way for Outsized Earnings
(DBN)

The Biglaw Firm You Need To Call For Commercial Litigation
(DBN)

Interview Essentials For Attorneys On The Move
(DBN)

Biglaw Practice Leader Shot And Killed In Domestic Dispute Founder of Mayer Brown’s Supreme Court practice is shot and killed at his home Mayer Brown Supreme Court Practice Founder Shot and Killed 'Superhero' lawyer who argued cases before Supreme Court slain in North Shore home; suspect in custody Mayer Brown Partner's Killing Shocks Colleagues, Appellate Bar
(DBN)

Law School Students Locked In Elevator 3 Hours During Worst Callback Ever
(DBN)

Judge stays Arizona Summit accreditation suit Law School Pulls Plug on Fall Classes Amid Accreditation Crisis
(DBN)

Tiffany Trump Isn’t ‘Just A Typical Law Student’ — Yeah, No Kidding
(DBN)

Decisions, Decisions: Why You Should Never Make Them While On Vacation
(DBN)

8 Dos and Don’ts for Surviving the Social Media Age as an Attorney
(DBN)

Manafort lawyers' decision to rest without calling witnesses could lead to acquittal Closings Set for Wednesday After Manafort Declines to Testify at Fraud Trial Trump muscles for end to Mueller probe after Strzok's firing Omarosa claims Mueller's team interviewed her How the Paul Manafort Trial Unfolded Mueller Probe Seen Pushing Past Trump-Demanded September 1 Deadline Closings Set for Wednesday After Manafort Declines to Testify at Fraud Trial
(DBN)

Trump unloads on the FBI, Robert Mueller, Jeff Sessions and the DoJ in a furious morning tweet storm From 'Honest Man' to 'Scared Stiff': All of Trump's Tweets Dishing on Jeff Sessions A Tex-Mex restaurant celebrated serving Jeff Sessions — and had to quit social media after huge backlash Trump: Sessions Not a Real Attorney General
(DBN)

Lawyer’s in-chambers chest bump of DA merits suspension, disciplinary board says
(DBN)

Weinstein Trafficking Charges Survive Motion to Dismiss Defense Department spokeswoman investigated for treatment of staffers Bill Cosby Says Being Declared A Violent Predator Will Damage His Reputation
(DBN)

Former Baltimore officer indicted in beating that was caught on video
(DBN)

Why didn't judge detain New Mexico compound suspects? Uproar after judge OK's freeing most New Mexico compound defendants
(DBN)

NYPD officer being investigated for breaking in Nashville family's home, using racial slur
(DBN)

FBI warns that a massive ATM-cashout heist may happen this week: report
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Judges:

The Confirmation Wars Are Over Judge Kavanaugh and justiciability With Kavanaugh hearing set, Senate releases records Kavanaugh Was Driving Force Behind Divisive Bush Picks
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West Virginia House votes to impeach all 4 justices remaining on state supreme court W. Virginia's Entire Supreme Court Impeachment Vote Roils West Virginia Supreme Court Impeached
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Texas Judge Admonished For Treatment Of Homeless Witness
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Wall Street:

U.S. stocks poised to slip ahead of retail sales data, as Turkey remains a focus
(DBN)

Dow, S&P 500 end 4-day slump U.S. stocks close higher as Turkish-crisis jitters ease
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Layoffs:

Aviation support company plans 830 layoffs at LAX
(DBN)

Williamson-Dickie to close South Texas plant, layoff 156, move operations to Mexico and Honduras
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Charter Communications is cutting 84 jobs
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Retailing:

Lease Termination Disputes and Bankruptcy
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Famed retailer Gump's gets court OK for store-closing sale in Ch. 11
(DBN)

Sears CEO’s hedge fund offers to buy Kenmore brand for $400 million
(DBN)

SSG Advises A’GACI, LLC in Chapter 11 Reorganization
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Politics:

Trump says ‘Wacky Omarosa’ had a nondisclosure agreement; arbitration is reportedly sought Did Omarosa break the law by secretly recording Trump and Kelly? Omarosa drops a bombshell claim on MSNBC: Trump knew about Clinton’s stolen emails before WikiLeaks Omarosa Tape: Aides Discuss Trump's N-Word Sarah Sanders "can't guarantee" Trump has never used the N-word Penn Jillette says he knows Trump tapes exist, because 'I was in the room' What We Know About the Trump 'Apprentice' Tapes Omarosa claims Trump said the Boy Scouts need to 'man up' and 'grow some hair on their chests' after criticism over his controversial speech Twitter blasts Trump for calling Omarosa a "dog" What Omarosa Thinks of Pence, Melania, and the Trump Kids Trump campaign hires Hulk Hogan lawyer Charles Harder for arbitration action against Omarosa Manigault Newman The Trump campaign is suing Omarosa for millions after her tell-all book and recordings set off a firestorm Trump campaign takes legal action against Omarosa, alleging breach of confidentiality agreement Kimmel: Something Wrong with Omarosa
(DBN)

Donald Trump and the Currency of Tapes
(DBN)

Omarosa and Michael Cohen made secret recordings of Trump — and fellow officials are reportedly wondering if anyone else did too
(DBN)

Trump's presidential reality show
(DBN)

Nearly 60% of voters don’t like Trump as a person, poll finds Trump Job Approval: 43.3% Approve - 52.3% Disapprove
(DBN)

U.S. Congressional Approval Steady, Low in August
(DBN)

Poll: GOP Believes Media is Enemy of the People America’s Newspapers Just Played Right Into Trump’s Hands
(DBN)

GOP Traded Reagan for Trump and I Quit
(DBN)

The Church of Trump - White working class church attendance declining fastest
(DBN)

Kobach, Colyer Can't Agree on Votes to Count Kansas Gov. Jeff Colyer concedes to Kris Kobach
(DBN)

Trump FactCheck: Ohio Gov. John Kasich is "very unpopular."
(DBN)

Report: Twitter suspends account of Infowars host Alex Jones Twitter finally admits Alex Jones violated its rules, hits him with a 7-day ban
(DBN)

New topic on campus: Civil Discourse 101 Against Identity Politics
(DBN)

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Climate:

California is paying inmates $1 an hour to fight wildfires Fierce and unpredictable: How wildfires became infernos California fires may make homeowners insurance harder to get Smoke gets in your eyes: wildfires sting California park tourism
(DBN)

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Student Debt:

Student loans after 40: Is your retirement doomed?
(DBN)

CO Bankruptcy Filer Takes Student Loan Servicer To Court
(DBN)

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Travel:

Royal Caribbean bans emotional support animals from all cruises
(DBN)

Could A Glass Of Wine On An Emirates A380 Put You In A Dubai Jail?
(DBN)

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Maritime:

Bankruptcy comes closer for Murmansk Shipping Company
(DBN)

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Magazines:

The owner of New York magazine is exploring strategic options
(DBN)

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Electricity:

PG&E shouldn't claim wildfires will bankrupt utility
(DBN)

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Fraud:

Victims of Tom Petters’ Ponzi scheme starting to get some of their money back
(DBN)

Insider Trading: Are Insolvent Firms Different?
(DBN)

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Economy:

NY Fed Q2 Report: "Total Household Debt Rises for 16th Straight Quarter" U.S. Household Debt Reaches New Heights Household debt now 19% above crisis low after 16th straight gain Millions of Americans are handling this ‘frightening’ financial issue all wrong Households in best position to handle debt in nearly 16 years Total U.S. Household Debt Continues to Increase
(DBN)

Pew: Real Wages Back at 1974 Level
(DBN)

Economic Growth Gets a Downgrade
(DBN)

Import prices were flat in July, suggesting a strong dollar kept inflation pressures in check U.S. import prices rise at fastest pace in 6 1/2 years
(DBN)

Fed May End Taper This Year Amid Regime Rethink, Pozsar Says
(DBN)

Small Business Optimism Index increased in July Small-business confidence hits another record high under Trump: CNBC/SurveyMonkey
(DBN)

Gallup: U.S. Satisfaction Still Running at Improved Level
(DBN)

Four Major Recession Indicators To Watch, And What They Signal Now
(DBN)

Trump tariffs hurt soybean farmers, but most Americans not suffering at all — here’s why The soybean debate is running short on facts Trump support dips among farmers as trade war wallops agriculture This stranded ship of soybeans could help you understand the US-China trade dispute Vilsack: Going it alone on trade put bull's-eye on U.S. ag Soybeans strain Beijing's trade war messaging Here are all the ways the new tariffs are going to hit your pocketbook Trump tariffs mean uncertainty for booming Port of Baltimore Energy giant Vestas warns of rising costs due to US metal tariffs Chicago-area manufacturer to lay off 150 people, move operations to Mexico, to avoid tariffs on Chinese metal Boat CEO: Trump's Tariffs Crush US Businesses The Elusive ‘Better Deal’ With China Trump trade war with China leads to 'off the charts' rush of imports at nation's busiest port and more demand for warehouse space China blasts US solar tariffs, takes WTO action Trump's trade spat is rattling China's leaders and economy Trade war is still the biggest ‘tail risk,’ say global fund managers Another first for Trump: Using tariffs as diplomatic weapon China could reportedly use its 'unwritten' tech rules as an 'invisible tool' against US firms Garbage companies are refusing your recycling. The trade war with China will make it worse Chinese meat importers look elsewhere amid US-China trade war beef Trump Tariffs Won't Alter Trade Deficit, NY Fed Paper Says
(DBN)

Harley-Davidson CEO pushes back against Trump criticism, 'misinformation' in memo to employees Harley-Davidson dealer: We've seen 'zero' backlash from Trump tweets, boycott talk
(DBN)

Canada moves toward potential safeguard tariffs on steel imports
(DBN)

Best states for small business, graded from A+ to F (Hint: 5 did stellar and 2 flunked)
(DBN)

Tax Cuts Pay for Themselves?
(DBN)

Are Tax Revenues Really Rising?
(DBN)

Growing debt will expedite Social Security’s insolvency, Wharton economists say
(DBN)

New warnings about cuts to Social Security and Medicare are a reason to worry
(DBN)

Infrastructure: More Bridges Will Collapse
(DBN)

Regular workers now have to work for 167 years to make as much as CEOs do in one — and the problem is getting worse
(DBN)

White House wrongly claims Trump created more jobs for black Americans than Obama did White House Sorry for False Comment on Black Employment
(DBN)

Capitalism fixed my car
(DBN)

The average American takes less holiday time than a Medieval peasant, economist reveals
(DBN)

How Are the Children of The Recession Handling Financial Independence?
(DBN)

The 25 Highest Paying Jobs In America In 2018
(DBN)

US Debt Clock
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World Debt Clock
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How People Really Live
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Real Estate:

Royal Bank of Scotland pays $4.9-billion to settle U.S. claims of crisis-era misconduct
(DBN)

MBA: Mortgage Applications Decreased in Latest Weekly Survey
(DBN)

One in four homes are now equity rich
(DBN)

Apple is reportedly arguing that buildings at its headquarters are worth just $200 so that it can reduce its tax bill
(DBN)

California Bay Area Home Sales Decline 3 Percent YoY in July, Inventory up 2% YoY
(DBN)

41 million Americans live in a flood zone. Here's what you need to know about flood insurance
(DBN)

Real Estate Credit Thaw In 2018, Return Of Zero Down Loans
(DBN)

El Paso: William "Billy" Abraham bankruptcy battle goes to mediation
(DBN)

Harbor Hill sale to proceed in Provincetown
(DBN)

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Municipalities:

Omarosa: Trump used 'derogatory' term for Puerto Ricans; Kelly fought hurricane aid
(DBN)

Almost a year after Maria, all of Puerto Rico finally has power Puerto Rican Storm Victim Gets Her Power Back, Nearly a Year After Hurricane Maria Some Puerto Ricans spent 11 months without power
(DBN)

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Consumer Finance:

Courts Can Deem Loans ‘Unconscionable,’ Even If Not Usurious, Calif. High Court Says
(DBN)

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Religion:

Report identifies over 300 ‘predator priests’ in Pennsylvania Scathing Pennsylvania grand-jury report alleges child sex abuse by hundreds of Catholic priests The shocking claims in new grand jury report on Catholic abuse coverups Grand jury speaks truth to power on Catholic Church abuse coverup 301 ‘Predator Priests’ Named In Pa. Grand Jury Abuse Report Over 1,000 children 'Men of God hid it all': Church protected more than 300 'predator priests' After Catholic abuse report, prosecutors can do little but name and shame
(DBN)

Chile asks Vatican for information on abuse cases
(DBN)

Bankruptcy plan for Eastern Montana Catholic diocese approved, attorneys say Judge approves $20 million settlement between diocese and sexual abuse victims
(DBN)

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Hotels:

FL: Bankruptcy auction for stalled hotel canceled after one bidder shows
(DBN)

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Cryptocurrency:

Bitcoin dips below $6,000 amid cryptocurrency sell-off Cramer: The 'tide has turned' against bitcoin The cryptocurrency market has shed more than $600 billion from its peak — what exactly happened? Cryptocurrency market value down 70% from its peak Fear-based selling behind bitcoin slump, says one analyst Blow To Bitcoin As Coinbase CEO Makes Stark Warning
(DBN)

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Personal Finance:

This is the No. 1 thing parents can do to set their kids up for career success
(DBN)

The best and worst US cities for retirement
(DBN)

20 ways you can rent stuff out for extra cash
(DBN)

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Non-Profits:

UW-Oshkosh plan to auction off Rosendale Biodigester approved, $2 million baseline set
(DBN)

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Movie Theaters:

MoviePass has less than three months left before it runs out of cash — and its latest changes won't save it MoviePass parent company reports large losses, stock continues plunge Investors Sue MoviePass Owners As Stock Bottoms Out
(DBN)

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Festivals:

STJS Files for Chapter 7 Bankruptcy
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN)

Recent Ch. 11 Filings (17 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (17 new filings today)
(DBN)

Bankruptcy Code (html) - Bankruptcy Code (pdf) Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Jobs:

(1) (2) (3) (4) (5) (6) (7) (8)
(DBN)

Seminars - (Contact us to list your seminar)

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Bankruptcy Statistics:

Bankruptcy and the Elderly These Americans are filing for bankruptcy more than ever
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Avoidance Actions:

Blue Bell wins appeal over payments to bankrupt Bruno's grocery chain
(DBN)

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PACA:

Florida Proves Safe Haven for Individuals Liable for Breach of the PACA Trust (bonus: form complaint attached)
(DBN)

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Jurisdiction:

New York Bankruptcy Court Finds Constitutional Authority to Enter Default Judgments Against Foreign Defendants
(DBN)

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Mediation:

Settlor’s Regret in Mediation — After It’s Too Late to Back Out
(DBN)

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Litigation:

Litigation Finance Pioneer Dies After Apparent Opioid Overdose
(DBN)

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Leases:

Fifth Circuit Holds Lease To Be a Secured Loan
(DBN)

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Mass Torts:

Monsanto on the Hunt for New GC in Midst of $289M Roundup Verdict
(DBN)

Napoli, 14 Law Firms Can't Escape Asbestos Referral Suit
(DBN)

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Healthcare:

ID: Nursing-home owner files for bankruptcy
(DBN)

Bankruptcy leaves fate of fire-gutted Safe Haven facility in limbo
(DBN)

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Pensions:

Don’t confuse public pension cost with generosity
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Debt Collection:

Credit collections have plunged after agency settlement with states, new study finds
(DBN)

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Corporate Reform:

WH Ending Financial Protections for Military
(DBN)

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Autos:

Ford: 'Reagor-Dykes Auto Group created their own financial mess' Ford levels more allegations against Reagor Dykes in latest bankruptcy filing Judge grants order allowing Reagor-Dykes additional 30 days to submit financial documents Meet the 3 Tesla board members set to decide on Elon Musk's go-private plan Tesla board forms special committee to consider going private
(DBN)

Elon Musk again tweeted misinformation Members of Tesla's board of directors are lawyering up as crisis around Elon Musk deepens
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UK:

Katie Price 'begs Peter Andre for help' amid bankruptcy claims Katie Price drops £130,000 off price of horsebox and flogs it on eBay in desperate bid to make money ‘Desperate’ Katie Price accused of ‘doing anything for cash’ as she shows off purple face mask
(DBN)

Why did Mike Ashley wait for House of Fraser to go bust before he bought it? The secrets behind pre-pack administration deals
(DBN)

Homebase plans to close 42 stores and cut 1,500 jobs
(DBN)

Secured creditors – don’t be too involved with your customer’s administration!
(DBN)

PwC failed to flag BHS risks ahead of retailer's collapse: regulator
(DBN)

Insurers Buy Out BHS Pension Scheme For £800M
(DBN)

U.K. stocks threaten longest losing streak since February
(DBN)

UK unemployment drops but wages stagnate
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EU:

Contagion from Turkish currency collapse to European banks is ‘overblown,’ says analyst
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PIIGS:

At least 25 people are dead after a huge highway bridge collapse in Italy, and the death toll could rise 'significantly' Genoa Bridge Collapse Death Toll Hits 37 Video of the Genoa Bridge as It Collapsed
(DBN)

Italy is the biggest threat to European banks, not Turkey, warns expert
(DBN)

Europe moves on from financial crisis, but Greece is still recovering
(DBN)

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Turkey:

Turkey's lira surged 7% after Erdogan hit back at US 'attacks' with huge tariffs on American cars, alcohol, and tobacco Turkish lira rebounds for a second session in a row, but dollar index extends its own rally On Turkey, Trump Turns Trade War to Financial War These are the countries most at risk if Turkey's lira crash spirals into a debt crisis Winners and losers from the Turkey crisis Why You Should Care About Turkey's Meltdown Turkey slaps tariffs on American booze, cars as business groups urge diplomacy Turkey's crushing annual inflation rate is running at an estimated 101% The Real Lesson From Turkey’s Crisis US official warns of more actions against Turkey if pastor not freed Market wants ‘decisive action’ so Turkey needs to raise rates: Yale economist Stephen Roach How the lira selloff compares to Turkey’s previous crises Donald Trump Portrayed As Belly Dancer on Turkey's TV Turkey slashes capacity of banks to bet against struggling lira UBS: Turkey could be heading into a balance-of-payments crisis Turkish court rejects US pastor's appeal, upper court yet to rule Trump’s Fight With Turkey Is Helping Russia: Experts
(DBN)

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China:

China's Growth Engine Sputters as It Battles U.S. Over Trade
(DBN)

A missed bond payment in Xinjiang is fueling fresh concerns about China’s ability to shoulder its debt
(DBN)

China ramps up spending as the trade war bites, adding to the burden of its long-term debt
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Australia:

Liquidator claw back risk: Head contractor pays creditors of subcontractor under industrial pressure
(DBN)

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Germany:

German online betting operator Mybet Holding applies for insolvency
(DBN)

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Malaysian:

Nearly 65,000 Malaysian Youth Have Been Declared Bankrupt In Less Than 5 Years
(DBN)

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India:

India to be engine of world growth for three decades: PM
(DBN)

No moratorium for personal guarantors: Supreme Court
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Venezuela:

Lack of food pushes 2.3mn to flee Venezuela: UN
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